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All this idealism remains to be proven. If Bitcoin can cross the chasm to be a de-facto transaction method then it might have enough leverage to force governme
by dasil003 8y ago
All this idealism remains to be proven. If Bitcoin can cross the chasm to be a de-facto transaction method then it might have enough leverage to force governments to capitulate, but we are still very very far from that point, so you shouldn't treat it as a foregone conclusion.
I grew up in Brazil during hyper inflation, and I have Argentinian friends now, so I understand what it means to obtain currency overseas or on a black market, and I can assure you it's a huge hassle and not something people want to do unless their local fiat currency has major problems. If governments with strong currencies start moving against bitcoin, transaction volume will decrease, investors will lose confidence, and the value will crash out. This doesn't require a coordinated effort, it just requires a handful of major countries to start seeing things a certain way.